Over-the-top streaming platform Ullu Digital has filed a draft purple herring prospectus (DRHP) with the BSE SME platform for an preliminary public providing (IPO). The OTT platform plans to lift round ₹135-150 crore by way of the preliminary stake sale.
The proceeds from the recent difficulty can be utilised for the manufacturing of recent content material, buy of worldwide reveals, buy of state-of-the-art gear and hiring of workers.
The funds raised may also be used for difficulty bills, working capital requirments of the corporate and normal company functions.
Almost 50% of the provide has been reserved for certified institutional patrons, 35% for retail traders and the remaining 15% for non-institutional traders.
Founders of the corporate, Vibhu Agarwal and Megha Agarwal has 95% holding in Ullu, in accordance with the DRHP.
Narnolia Monetary Companies is performing as the only real book-running lead supervisor to the IPO whereas Skyline Monetary Companies is the registrar. The corporate can be listed on the SME platform of BSE.
As soon as accredited, Ullu’s public provide would be the greatest ever SME IPO by way of dimension. The Spectrum Expertise Administration difficulty, which raised ₹105 crore, is the biggest IPO within the SME phase, adopted by Aashka Hospitals which garnered ₹101.6 crore. Baweja Studios mopped up ₹97 crore, Khazanchi Jewellers ₹97 crore and Smart Journey India raised ₹94.7 crore, in accordance with information from Chittorgarh.com.
Ullu engages within the distribution, exhibition, promotion, advertising and supply of various content material on its platform or app Ullu, which gives net collection, quick movies and reveals.
The OTT platform has generated ₹58.33 crore in income from operations with a revenue of ₹12.28 crore for the interval of April-September within the present monetary yr (FY24).
As of September final yr, the corporate has 20,92,975 subscribers. Ullu’s income from operations rose two-fold to ₹93.1 crore in FY23 as in opposition to ₹46.8 crore in FY22.
First Printed: Feb 16, 2024 4:10 PM IST
